United Kingdom
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Outright banning it or taxing the shit out of it have the same effect: buyers go to underground sellers, further risking their health/bypassing legal quality controls.
Source: I'm a weed smoker in Canada. While it is legal here; it's like 80% cheaper to use 'native' dispensaries (shops on native land, run by natives, and thus not subject to federal/provincial taxes). It's been several years since I last used a govt dispensary, and that was mostly because my usual sources were unavailable at the time.
$10-15/gram shatter vs $45-50/gram at a govt dispensary.
At least the taxing option brings in revenue for the govt and keeps people out of jail just for consuming their substance of choice without harming anyone else.
Fair point but for tobacco I think it would be different. Granted its a subjectively biased opinion but every smoker I've talked to wants to quit and just needs the proverbial last straw to put it down for good. If tobacco spikes in price that will be that straw for many people. Sure plenty of folks will still want to use tobacco and will do their best to skirt that tax but it will be a fraction of the current total smoking population that will continue to shrink. Additionally higher taxes kneecap the ability of manufacturers to raise prices on their goods so if theres no profit to be made the industry itself shrinks.